Zcash (ZEC) surged 12% in the past 24 hours, reaching an intraday high of $692, driven by the U.S. SEC's decision to close its investigation into the Zcash Foundation. This regulatory clarity, along with the Foundation's strong balance sheet of $36.7 million in liquid assets, has bolstered investor confidence, pushing ZEC to become the second-best performer among the top 20 cryptocurrencies by market cap. Despite organizational changes at the Electric Coin Company, core development on the Zcash protocol continues, reinforcing the project's operational stability. Technically, ZEC shows bullish momentum, trading around $655, with indicators suggesting potential overbought conditions. Key resistance levels are eyed at $700 and $745, while support is noted at $580, should a market correction occur.